Solar stocks down as US treasury yields rise

Emeren

16/04/2024 17:27

(Updates)
    ** Shares of solar companies fall on higher U.S. treasury
yields
    ** 10-year treasury yield hits five-month highs after U.S.
retail sales increased more than expected in March  US/ 
        ** "...the more financing-centric the business model,
the greater the impact from the higher interest rate
environment,"  said Raymond James analyst Pavel Molchanov
  
        ** "Most solar developers and installers require access
to external capital. And, if their cost of capital is high, that
can put a damper on demand for solar equipment (modules,
inverters, etc)"
  
    ** Sunnova  NOVA.N , Sunrun  RUN.O , SolarEdge Technologies 
 SEDG.O  and Emeren Group  SOL.N  down between 1.3% and 5.6%
    ** Other solar firms such as Canadian Solar  CSIQ.O , First
Solar   FSLR.O , Enphase Energy  ENPH.O  and SunPower Corp
 SPWR.O  fall between 1.4% and 2.4%
    ** Invesco solar ETF  TAN.P  dips 1.9%

 (Reporting by Kabir Dweit and Seher Dareen)
 ((Kabir.Dweit@thomsonreuters.com;))